IREN - Here's Why Bitcoin Mining Stock Iris Energy Is Rising Tuesday | Benzinga
Iris Energy Ltd (NASDAQ:IREN) shares are trading higher Tuesday after the company on Monday provided a business update and announced that its 2024 expansion is fully funded.
What Happened: Iris Energy provided an operations update, highlighting its cash position of $425.3 million and zero debt. The Bitcoin (CRYPTO: BTC) miner said its hashrate of 30 EH/s and 510MW of data centers are fully funded for the year.
Iris Energy also noted that it has an additional cash buffer that can provide flexibility related to procurement items for its ...